Ashok Leyland drops after weak January sales

Ashok Leyland lost 1.82% to Rs 16.15 at 14:11 IST on BSE after the company said its total sales declined 26% to 7,847 units in January 2014 over January 2013.

The sales numbers were announced during trading hours today, 3 February 2014.

Meanwhile, the S&P BSE Sensex was down 217.21 points or 1.06% at 20,296.64.

On BSE, so far 2.16 lakh shares were traded in the counter as against average daily volume of 14.92 lakh shares in the past one quarter.

The stock hit a high of Rs 16.45 and a low of Rs 16.10 so far during the day. The stock had hit a 52-week low of Rs 11.82 on 29 August 2013. The stock had hit a 52-week high of Rs 25.50 on 6 February 2013.

The stock had underperformed the market over the past one month till 31 January 2014, sliding 4.36% compared with the Sensex's 3.1% fall. The scrip had also underperformed the market in past one quarter, declining 4.36% as against Sensex's 3.07% fall.

The mid-cap commercial vehicles maker has equity capital of Rs 266.07 crore. Face value per share is Re 1.

Ashok Leyland's sales of medium & heavy commercial vehicles (M&HCV) declined 19% to 5,530 units in January 2014 over January 2013. Sales of light commercial vehicles (LCVs) dropped 37% to 2,317 units in January 2014 over January 2013.

Ashok Leyland reported net loss of Rs 167.21 crore in Q3 December 2013 compared with net profit of Rs 74.14 crore in Q3 December 2012. Net sales declined 19% to 1903.28 crore in Q3 December 2013 over Q3 December 2012.

Ashok Leyland, the flagship of the Hinduja Group, is the second largest maker of commercial vehicles in India after Tata Motors.

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